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Topping up Your Capital Replacement Reserve after Mortgage Payout
Date
24 August 2022
Many co-ops in the Agency’s portfolio reached an important milestone in the past several years: finally paying off their mortgages. For many, that has opened wide new worlds of financial freedom. And the good news is that many co-ops are using that freedom to top up their capital reserves.
Tip of the Month
Capital Plans and Contributions
Comparing 2007 and 2020, we saw the median annual contributions per unit almost triple ($1,026 per unit to $3,052).